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20130113
20130121
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CNBC 18
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English 36
Search Results 0 to 35 of about 36 (some duplicates have been removed)
WHUT
Jan 18, 2013 7:30am EST
is the foundation of japanese security in an increasingly difficult environment. japanese and american diplomats have been struggling to agree on how to relocate a u.s. military base in okinawa. they've run into strong opposition from residents. on top of that, the americans have been pressuring the japanese to start talks on a free trade agreement. farmers and lobby groups are urging abe not to join the transpacific partnership. many wonder how abe will balance these pressures as we tries to achieve his goals. >>> foreign diplomats are still trying to find out what happened after troops mounted a rescue operation at a gas plant in algeria. islamist militants took dozens of workers earlier in the week although the actual number is not known. on thursday security forces moved in and freed some of the captives. the algerian communication minister said there were casualties. reuters says 30 hostages including several foreigners were killed. the militants kidnapped the workers on wednesday near the town of amenas. it included japanese and french citizens. the militants demanded france end its milita
CNBC
Jan 17, 2013 12:00pm EST
. >> of course it is. in a normal environment for markets that don't appreciate calm is good. that's the problem right now. everyone is challenged by the fact it's boring, it's calm, the vix is at 13. spanic auction supposed to blow up. that was good. financials which had between leading sector in 2012, 2013 leading sector again. we'll walk you through the numbers. in terms of eps and sales growth it's spectacular. it will continue network. ten we're treasury 1.86. it's boring pap benign tape. stay with it. >> stephanie next link? >> it will be volatile between now. earnings and the debt ceiling discussion. so expect that. but on the weakness we've been buying and i think when you get data like we did today in housing, again confirming that we're still in very early innings that means earnings revisions in the housing sector and food chain of financials and consumer as they feel better about home prices, all of that those numbers can eventually go higher and beyond housing i still like industrials because of the global story. i think that there's a lot more that can go. what's interesting today
CNBC
Jan 18, 2013 6:00am EST
of capacity and given the macro environment, given the cannibalization that tablets are doing with the expensive notebooks and the road map that is questionable. >> is there a road map that you see that gets them into the tablet and mobile space in a better way? you look at what is happening to the stock of arm, look at the stock of qualcomm, and these guys are nowhere in the same arena. >> that's a good question. they have the road map to get in. will they have a position of dominance? being the same is not going to be enough, particularly given a lot of oems over many, many years being accustom to them being basically sole source or a dominant proprietary source when you have an alternative where you have a multi source solution, some suppliers that use their processing from a company called arm. so it's going to be very tough. you have to have significant advances for oems to use your product. i don't think they that. >> what does this say about hue yet pack yard? what does this say about the news about dell with a potential buyout? i assume what is happening at intel is ha
CNBC
Jan 14, 2013 11:00pm EST
that if they really want to create value and send their stocks higher, the best way to do that in this environment may be simply to buy another company. hence, the huge spike in m and a activity in the fourth quarter. i think it's big. this trend continues in 2013, if you ask me. but i don't want just to see more deals. i want them to be the right deals. buy, buy, buy. so for all of the lonely is ceos who i'm sure are sitting on the rooftops singing. ♪ matchmaker make me a match ♪ find me a match make me a perfect match so you can sing, yes i am a rich man to a very plaintive tune. the hottest theme out there, a steaming hot thing, housing. these two combined, business will be an absolute powerhouse. i'm talking about masco and fortune brands home and security. two makers of cabinets, plumbing fixtures and other housing-related products. masco is the largest non commodity supplier to home depot and i should point out that any deal to acquire fortune brands would have to be done later in the year because of arcane tax laws. that's the caveat. still, the timing. we are now witnessing a fabulous hous
CSPAN
Jan 13, 2013 11:15am EST
of russia being their sole supplier. in this environment, subsidizing wind and solar makes no sense. also five years ago, we thought that china and india, and other emerging economies, my sign-on to emissions reductions, and, therefore, that if we reduced emissions, perhaps global temperatures would be reduced. and i don't think it does but i don't tak take a position on whr mandated emissions caused global warming or not, but if we are reducing our emissions and china and india, which make up 37% of the worlds population, are not doing so, when i pointed any affect on the global temperatures. and then the first chapter of the book i talk about geoengineering solutions, that nobel prize-winning weiner thinks we can reduce global temperature if we just do it on our own. painting russ whitehurst like the sun's rays. what we are doing with a 12 and dollars were spent on alternative energy is pushing people into cars that they don't want to buy, we are raising electricity costs. we are -- we're getting rid of incandescent lightbulbs in favor of fluorescent lightbulbs. and the cost of this fal
CNBC
Jan 15, 2013 12:00pm EST
a deal of this size. against that backdrop, you have a pretty risky environment in the sense that pcs are going through a lot of change right now. so while the valuation of dell stock is pretty darn attractive and i understand the rationale in this low interest rate environment to want to do a deal, because the deal is so large and there's uncertainty around dell's pc core business, i think when push comes to shove, the deal does not get done. >> i want to underscore one of the top rated analysts doesn't think that it's going to happen. shares are moving a little bit higher. stocks almost 23% at this point. obviously had that huge move yesterday. where does that leave the company's future, toni? what are they going to do? >> look, i think the company has been very deliberate in laying out a strategy, which is, we're going to try and move away from pcs. we're going to take our cash and buy companies to try and make us more of an enterprise player. one of the benefits of not going private is you have more degrees of freedom. you don't have to use your cash flow to pay down debt. you can
CSPAN
Jan 15, 2013 6:00am EST
events this morning. the council for science and the environment discusses disasters in the environment. the discussion will focus on the lessons of hurricane katrina, the ongoing drought, and the earthquake in japan. that is on c-span3 at 8:30 on with -- , today's a few moments headlines and phone calls, live on washington journal. the us house of representatives will be in session at two o'clock eastern. a disaster aid spending bill for hurricane sandy. in 45 minutes, we will be joined by scott rigell of virginia. we will talk about his recent we will talk about his recent letter to
FOX Business
Jan 15, 2013 3:00pm EST
was fantastic. this is all about creating an environment where businesses can grow, especially led by manufacturing, and we're going to be exporting the explorer from chicago because of what we've done to improve our competitors in the united states to 94 countries around the world so there's no reason that we can't do this in the united states if we have a laser focus on creating an environment where businesses can grow. liz: good news. as you look over the right shoulder at the sparkly grill, that atlas is something. you know, i look at concept cars, though, alan, as a unicorn. you see them once at auto shows, and then they never really materialize on dealership floors. will we see that car behind you? that truck in some form at dealerships in the future? >> yes, and to your point, liz, the neatest thing over the last six years, we, on every concept car we have had, we wanted to communicate where that design, where that capability was going and where we were taking it so there are concept cars, but they have a clear indication of where we are going to be improving the vehicle. to
CNBC
Jan 18, 2013 9:00am EST
to improved market environment. which shows a lot of promise if uncertainty is removed. take a listen. >> $90 billion is sitting there waiting to get into the market. if we see confidence coming through from the political sector, the global economic recovery, this thing has legs. >> guys, barring what they called a terrible quarter in commodities, a lot of things working in their favor. margin goals being met, all that. >> i want to talk about something that david faber said, came on air and said the different stories, there was a lot of chatter on the web, they said the company was in big trouble. you said they were dead wrong. i almost gave him credence on air. i apologized to mr. gorman about that. that was a very good call. you knew that there were rumor amongers that were spreading things that weren't true. >> we were in the mid stl of the european crisis, we're certainly not in the midst of the same crisis. any exposure you had to the sovereigns were seized on. morgan was suffering from that. that was a while back already. >> how did you know it was okay? >> how did i know? >> yeah, how
CSPAN
Jan 18, 2013 9:00am EST
growth a growth that is actually compatible with the sustainability of our environment and the fight against climate change. now, what does that mean for us? i remind you that in 2013 the imf is certainly stronger, better equipped financially, has certainly refined some of its analytical tools. we will continue to strengthen our surveyance, peps on spillover -- especially on spillover effects and on the financial sector. we will continue to strengthen our support for the entire spectrum of members through lending, capacity building, training, technical assistance. in other words, we are not only serving the needs of a selected group of countries, but we serve the entire membership. and when you look at the map of the world and see where our teams are whether it's in capacity building, in technical assistance, in programs associated or not with financing, we are all over the map. and we will continue to push ahead with the important and yet not completed reform of quota and governance which, as you know, includes three stages, two of which are completed, the third one not yet. and cer
CSPAN
Jan 18, 2013 6:00am EST
in the political environment where each participant has multiple constituencies to which they're accountable in some fashion and paying attention to. and so you take the last few days, clearly in a state of play that involves positioning, and we can be critical, it's easy to be create -- critical about why that's kind of the reaction everybody always has in a labor dispute. why can't they just get in the room? they know the range of substantive outcome. it's not a secret, it's not hard to find, why can't they do it this afternoon? and similarly, observing events in the fiscal negotiations, everybody looks at it and say, well, why can't they get those four or five people around the table in the roosevelt room this afternoon and resolve it? the subsequent outline has always been there, it's been this in every private conversation with maul groups of members -- with small groups of members of congress from both sides. it's not elusive. the details can be complicated especially on issues like health care costs, but the broad outlines of a resolution of these problems are not hard or to define, a
CSPAN
Jan 15, 2013 9:00am EST
that in a classroom environment with just a discussion. >> that's very important dynamics. >> so game changer, shale gas, regulation, barriers, culture, skill but i will talk about the hormones. dominant, mckinsey issue is sort of the cutting edge of looking at not only global manufacturing trends, but also trains but also trains in which are described as advanced industry. and this interesting interplay of production innovation. how do you see the landscape? >> very much with what you said at the beginning, the context of what transit is a, i think it is a shift going on. i think maybe we should start by saying too many of us, love manufacturing into one big category. there are at least five categories. i won't bore you with our views. i think the tip of it is advanced manufacturing, which is more using the data advanced materials, its nanotechnology. it's the combination of many other things, the innovation, the capabilities that this country is superbly good, the cross-cultural capability and as you said, it only is roughly around 11-12% of gdp, but it's extremely important flywheel. it accounts
CSPAN
Jan 15, 2013 11:00pm EST
is the political environment -- sorry. it can be hard to ignore, but were going to do it. another piece of the political environment, where we had the ability to fix the situation. we know to fix this. we needed a comprehensive dead deal that's big enough to stabilize the debt and we'll remember that. when you're trying to balance the budget. were not very. were not going to be there soon. you have to make sure that that's not faster than the economy and it's on a downward path and the problem is so big or too calm% year to look at every part of the budget. you have to look at defense spending. you have to clearly focused on health care costs, which go faster than the economy. we have to fix our social security system, which makes promises bigger than what we can pay out on the road. we have to raise revenues. we started down the path, but we haven't looked had to do about overhauling tax system, which would you want to raise revenue, you could do in could do in the way bad for the economy hallway discussion helps increase competitiveness and modernizes our tax system. so we know what t
CNBC
Jan 14, 2013 6:00am EST
. they're trying to get a new stadium and they want public funding and this in tax environment, they say the only way to really enhance your value is to leverage this kind of victory if they won the super bowl to get a new stadium, and they're right on the cusp of it. they're having that conversation with it. and they're the only team left that haven't won it. and then you have ray lewis, who was, you know, charged with murder 12 years ago. >> right. >> and now he's like the beacon of respect in the nfl. >> it's -- for me it's hard to get past my preconceived notions. i don't think the ravens belong, i hate to say that, where, you know, i think they're going to have a hard time getting past new england. and i also think atlanta's going to have a hard time getting past san francisco, don't you? >> i think the san francisco, in many ways -- >> did you watch that? >> yeah. they are good. it's funny, they say colin kaepernick and rg three are transforming the game of football. at 180 plus yards rushing. how can you do that for ten years? >> and then i think new england's defense trying to st
PBS
Jan 15, 2013 11:00pm PST
. >> and i think in an environment where you have hundreds of millions of chinese on twitter, that increasingly are learning their government officials are worth billions of dollars. >> rose: basically you are saying their fear is legitimate. >> i think their fear is legitimate, i don't think the country is going to fall apart. >> rose: butery rong protesmoveme that has legs could provide a challenge over -- >> that's right. and they are so unwilling to risk that, they are so unwilling to tolerate even a little that they are likely to do two things, first, it will truly slow them on economic reform that is necessary and on any political reform to make a very conservative and cautious and they need to speed up and respond to these people and makes it much more likely the chinese will engage in nationalism, because if you are going to get mad at something in china you are going to have this information you can't stop the chinese from -- >> ros raise the natnalism ag. yes and thais really -- >> rose: write is the reason in places in europe you have a certain national link, natio
CNBC
Jan 15, 2013 6:00am EST
of the economic environment we've experienced in the last couple of years, exceptional product and a great customer experience, there's opportunity for share gain. we believe if we can see it on our terms in thaur environment, we're still going to win. >> it starts and ends with product. >> mickey really stirred the pot during the korns when he said it's unbelievable that amazon hasn't been mentioned. >> that's good. yeah. i guess jeff basel doesn't show up for these things, but he is one of the big elephants on the block, too. >> most definitely. and we know they're willing to take a loss sometimes just to gain that market share and it does seem to be worrying folks so much so that they're afraid to talk about it. >> were the abercrombie guys there? >> no. >> i want to get that guy there. >> you want to get him on the plane. you have to follow the rules, have to have the right uniform. >> what's the song they sing? >> phil collins. but a lot of other rules, too. >> you're not allowed to wear flip-flops. >> and they can only address them -- >> wear the same cologne, too. >> there has to be
CSPAN
Jan 17, 2013 12:00pm EST
constrained environment you wouldn't make. >> if i may need to the secretary of the needy or the chief of naval operations is to get more convictions. my mission is to ensure a fair, effective and efficient military justice system and has said, the officers are responsible for the safety, the welfare and the discipline within their command the of difficult leadership decisions to make and they make those decisions case by case, day in and day out and they try to do what's right in each case, not what's easy and what's expedient and not what is a perception of what is expected of that. >> i want to thank you all of the panelists. this concludes the briefing. it's been extremely informative to all of us, and we appreciate not only your service but your participation today. we know that there are veterans out in the back of the audience and we also want to acknowledge their service and commitment and involvement in today's process as members of the audience. i also want to personally thank the commission staff that put this together and highlight who did a spectacular job of putting toget
CSPAN
Jan 16, 2013 7:30am EST
for political instability perhaps has increased, amplified by the deteriorating economic environment that chavez will also bequeath to his successor. so what happens next? are there some scenarios that are more likely than others? what are the implications for vens venezuela and also the international community, and what is the chavez legacy for the region? we've assembled a top flight panel, each of the panelists having deep experience in and knowledge of venezuela. our first panel cyst is russell dallen -- panelist is russell dallen. was is a journalist through and through having worked for a firm of leading publications around the world, a keen observer of the issues. he's also an effective commentator, and his views are widely sought by the press and the markets. any of you of who have followed venezuela recently have probably seen his name pop up in some of the press articles. russ is a harry suspect truman scholar which is something i like to point out whenever i can. second is charles shapiro, formerly the u.s. ambassador to venezuela. charles recently which canned a very successful tenur
CSPAN
Jan 17, 2013 5:00pm EST
around policy uncertainty. there are many who believe that the uncertain environment that is prevalent in the nation's capital is adding to some of those concerns. we certainly hear from some of -- small-business customers and others who do not know what their tax rates are going to be or what areas the government may cut back on spending. it is a difficult position for people to wait in. even if they are seen profitability and growth in their business, they are trying to get by with what they haven't been rather than commit to -- with what a house rather than commit to new investments. >> you know how much of a world of participation rate is going to play in unemployment going forward? we have seen a sort of stabilization. will it hit the bottom? and have all of the we're factors played out and now it is just demographics? >> one dindane -- one thing that surprised everybody and one of the reasons we have had a lot of progress on the unemployment rate is past years we have not seen a lot of people re-enter the labour force. participation rates have been pretty much trending down. ther
CSPAN
Jan 17, 2013 8:00pm EST
balanced growth, growth that is more compatible with the sustainability of our environment and the fight against climate change. what does the need for us? i remind you that, in 2013, the imf is stronger, better equipped financially. it has certainly refined some of its tools. we'll continue to strengthen our surveillance, especially on spillover effects and on the financial sector. we will continue to strengthen our support for the entire spectrum of members through lending, capacity building, training and technical assistance. in other words, we're not only serving the needs of a selected group of companies -- a group of countries, but the entire membership. when you look at the world and see where our teams are, where there is building and technical assistance in programs, we are all over the map. and we will continue to push ahead with the important and not complete reform of " and governance. we are in three stages, two are completed. we are certainly short of a few members, one of which is obviously a key member. that is all everyone into open bar conference with. i will welcome yo
CNBC
Jan 16, 2013 9:00am EST
and economic story is saying this is not the kind of financial environment that leads to rapid growth. >> interesting. >> okay. >> you tied it in to dell and jpmorgan and everything else. excellent. larry, thank you. >> my pleasure. >> join us tomorrow. "squawk on the street" begins right now. >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, and jim cramer and david faber at the new york stock exchange. stocks had a pretty nice day yesterday. the s&p closed at five-year highs. we are looking to the down decide this morning. the dow looking to lose about 62 at the open. the picture in europe, a couple of downgrades for gdp forecasts from both the german government and world bank. italy is down by 1.5%. road map this morning starts off with the banks and earnings. jpmorgan higher. goldman sachs at 18-month highs. >> japan airlines grounding their entire dreamliner fleet. >>> dell shares falling this morning after david faber reports that a deal could be announced within two weeks, but at a price of 13.50 or 14 a share, he's got the de
CNBC
Jan 15, 2013 3:00pm EST
&p are yielding more than the ten-year u.s. treasury, and that type of environment where dividends are going to grow 10% this year, that can be a good backdrop on stocks like ford that developed its dividend last week, lowe's on the home improvement side and dresser injuries and transindustries. >> with all due respect, jpmorgan out yesterday saying that maybe the dividend play is last year's play and maybe now is the time to get into riskier assets in equities because they feel like the economy is going to start to pick up. so you're sticking with the dividend play though? >> i am. for these two reasons. one, bill, the growth of dividends is the story. not the absolute yield. it's the growth in dividends and that can be names like qualcomm, apple, ford is my example. second. when investors look much like 1994 and 1999, when interest rates went higher, the ten-year treasury was yielding, was returning minus 3% for those two calendar years. people will come back to the stock market, but they will come back to the stock market in the safer yield and dividend-growing stories. that is why i thin
CNBC
Jan 16, 2013 5:00pm EST
to understanding the overall environment. but for the stock, the company's full year guidance, which we expect to hear, probably matters more so i'll be watching that. longer term, analysts need better evidence that intel really can gain ground in tablets and smartphones where so far, chip giant just hasn't made a dent. back to you. >> thank you for that, jon fortt. the other issue is inventory. that's been rising as a percent of revenues since the third quarter of last year. and that is -- they have to scale back production in order to cut back the inventory. >> they are so poorly positioned in the tablet space, tabletting are destroying laptops right now. if you talk about emerging market growth, it's again, back to that apple story. it's as a much lower gross margin. intel guided gross margins to 57%. that's the lowest since q-3 2009. i don't think it's a good press. it just rallied 10% off the november lows, but it's kind of in no man's land. you really need to get a sense how they are positioned. don't forget, they are looking for a new ceo. in november, their current ceo announced retire
CNBC
Jan 17, 2013 9:00am EST
are building on the money center banks. i actually feel the environment is still tough, maybe getting more friendlives can i ask you about the rally we've had generally? it's notable that goldman sachs has outperformed both the ac and citi with an 18% rise in the stock over the last month. today, of course, you downgraded goldman sachs in the light of that move. where are you on the sort of share price movement that is we might see in those three and oats moves forward? >> to see additional up side in a broker dealing, you have to see the economy get better. that could happen. i'm hoping it will happened. i'm just not sure if this is the time to put new money into goldman sachs, if we're sure not sure that will play its way out. it's just a matter of, how long does it take for the uncertainty to get out of the way, so companies can get back to making acquisitions. >> jeff, do people give you a hard time when you cut the ratings and yet boost the price targets? that gets made fun of a lot. >> yeah, we do get some for it. the price target increase, it's very form layically driven. what our p
CSPAN
Jan 15, 2013 8:00pm EST
something very different. the individual if you would have taught that in a classroom environment adjust a discussion on -- [inaudible] that's very important dynamic there. >> game changer, shell gas, more regulation, barrier, culture. i want to talk about the here mowns. [laughter] mcken city is about the cutting age looking at not only global manufacturing trends but trends you're describing advanced industry. and innovation. how do you see it? >> i think very much is said at the beginning of the context claus. there's a shift doing on. i think we should start by saying too many of us lump manufacturing in to one big category. i think there are at least five categories. i won't bore with them. i think the tip is the advanced manufacturing which is more using big data. it's advanced material. it's nano technology. it's the combination of many of the things the innovation capabilities that this country is good at the cross functional capability. as you said, it's -- it's roughly around 11 to 12% of gdp. it's extremely important fly wheel. it accounts, football we think, a third of the u.
CSPAN
Jan 18, 2013 8:00pm EST
, but making some judgments. you're going to have a consensus which is more typical of the urban environment. you're going to go into -- let's get back to laura. let's go back to bring the communities in and around or, colorado, what i think is an important conversation because i think you will find there is probably more consensus around the country for what we refer to as responsible common-sense gun legislation that complement's. we will also find in republican areas a lot of support for after-school programs. you will find a lot of that. so i think part of the way you get good at continuing that conversation, i would say that you dispel the cultural barriers. is very different to your reaction in montana. >> came to the staff to go fishing. as kid to my branch manager who is an avid outdoorsman and quite a political, owns a lot of guns but primarily traditional bow hunter. i said, rham emmanuel is coming. oh, my god. i've got to go hide my guns. and we left about this. they're going to love your guns. >> the secret service. >> the secret service came and they spend a lot of time. they ca
CNBC
Jan 14, 2013 4:00am EST
employment opportunity, you've got income growth and environment of very low interest rate is headache to policymaker in which i think the government here continue to have to fine tunemakers every now and then essentially because after they tighten one time, they quiet down the market, but i comes back again because the liquidity flows remain strong. so whether this is the measures toned all measures remains to be seen, i think if the interest rate remains low, we may see further tightening after a period of quiet. i suppose contemplation, i think. >> stick right there. we also want to take a look at what is happening over in india. we're seeing mixed pictures on inflation. headline inflation slowed to its lowest level in three years, in fact. that was up about 7.2% from a year earlier and well shy of expectations. some say the lower than expected wpi fueled the rate cut from india. does this mean 25 basis point rate cuts and more to come? >> well, there's firm pressure from the politicians on the central bankers to do so. the growth is still rather iffy. you've got inflation taking th
CNBC
Jan 14, 2013 9:00am EST
returns, what you're telling clients for the next three to five years? >> in this environment, we're actually asking our clients to think about three things. first we're going to have low interest rates for awhile. so they need to adjust their expected returns. so in a low interest rate environment we're going to have lower returns across all asset classes. second, we're telling our clients that as they think about the lower returns in the context of their portfolios, they also need to recognize that we are going to have volatility from incremental policy on a global basis. whether it's in the u.s., europe, japan or emerging market countries. we are expecting that policy, whether it's monetary policy adjustments, fiscal policy, it will all be incremental. and that will create market pressure because it won't be at a pace that the markets would like to see. so that will introduce volatility. and it's not something our clients should try to trace. they should look over the horizon and invest for the long run. >> looking at the long run, three to five-year term outlook if you look at
CNBC
Jan 15, 2013 4:00am EST
struck a down beat note warning that the global environment would remain challenging. let's take a look at shares. they are trading up nearly 4% in trade in london, up better than 7% in the last seven days. what's interesting, too, this is a company that last year just in talking about chinese sales saw shares get walked. >> after a really big run. there was a lot built into expectation owes that. >> this time, investors seemed happy about beating the last time. >> meantime, the 2% drop for same-store sales for h&m showed total sales up 8% last month, outperforming stims estimates. >>> coming up, we'll take a closer look at burberry with. >> inny carlisle, joining out at so is 10:45 a.m. central european time. set your alarm clock. >> something even more important is going on. for all of those who like a strong pint of bitter, the british beermaker has announced that it is reducing the alcohol content in its ale because of rising costs and lower demand. apparently watered down beer allows the parent company, heineken, to pay a lower rate of duty. so they're going to reduce the alcohol c
CNBC
Jan 17, 2013 4:00am EST
in this interest rate environment has been a boom in the past couple of years. those are going to expire at some point. with interest rates where they are, it's difficult for the banks on margin. there's no question the banking system is much stronger, earning better and is has much higher capital and liquidity than it's had probably forever almost. >> you know, well, that's quite a statement because there's a lot of people who would still say banks shouldn't necessarily be turning around and handing capital back to shareholderses. would you agree that given the improvements we've made, it's time for them to be allowed to go forward? >> i think that the banks have accumulated so much capital and that they really don't have a good use for it in light of the lack of qualified loan demand. i'm not saying lack of loan demand because there's a lot of loan demand. but the credit standards are much higher and you don't have much to do with the capital. so you have to give it back if you don't need it. i'm talking about toous banks. it's not true around the world. the u.s. banks have very high capital r
CNBC
Jan 18, 2013 4:00am EST
and everything because that is the environment when the i.t. budgets are much flatter. so from that point, we were looking quite good so far as we get into the next year. >> and last question, what do you think this company will look like in calm of years time? it's been through so many transformations, changing business over the years. is this going to be a company that is still heavily focused on i.t. services as you divest some of the other parts of the business? what do you think this will actually look like in, say, 2015? >> clearly, you've been clearly focused on i.t. services, we had the demerger announcement last quarter and we are progressing very well. so as we exhibit this for the calendar or near or on that, we should be able to be done in terms of activity. which means if we're limited now, it will contain only the products and services in the geography. services are globally. it will focus more and more in terms of momentum as we identify with the life sciences, energy, natural resources, liquidities all in terms of fm services or retail and goods. and a deal supported by the pr
CNBC
Jan 16, 2013 4:00am EST
the question people ask is, can we see anything from the fourth quarter that will tell us what the environment in 2013 is like. i guess my answer to that would still be no. fiscal cliff issues, europe, the election, tropical storms, et cetera, and there's still no real clarity on what the business models, investment banking are going to look like as we head toward three. it's going to be much better numbers than a year ago. numbers are going to be slightly down versus the third quarter. and -- to my mind, there's still really nothing we'll be able to take away from the numbers in terms of -- >> which is frustrating because we're at a time when we are trying to re-evaluate what the model is going to be, what earnings will look like going forward. in your view, what is -- what is the investment case for these investment banks today? >> well, the investment case for an investment bank is that when they work very well, they are extremely capital -- if i advise a company and get a fee for ecm or m&a deal, it requires no capital, and i get a lot of money. that's very attractive. the second thing is
CSPAN
Jan 14, 2013 11:00pm EST
are very important to try to create this environment is most appropriate. that is what we are doing. there are potential risks and inflation was mentioned. we have obviously used an expansionary monetary policy and we have increased the amount of reserves that banks hold with the bad. there are some people that think that that will be inflationary. personally i don't see much evidence of that. inflation, as i mentioned, has been quite low. expectations remain anchored. private sector forecasters do not seek any inflation coming up, and in particular, we have, i believe, with all the tools that we need to undo our monetary policy stimulus and to take that away for inflation becomes a problem. so i do not believe that you can inflation is going to be a result of any of us. that being said i stability -- in terms of stability, it is well maintained. the other thing worth mentioning is financial ability. this is a difficult issue. the concern has been raised by keeping interest rates very low that the federal reserve induces people to take greater risks in their financial investments, a
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